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Federal Reserve Chairman Kevin Warsh apparently relishes a good debate, and the upcoming policy meeting is expected to see some robust back-and-forth.
The Federal Open Market Committee convenes Tuesday and Wednesday, marking his second meeting as chair. After his first one last month, he told reporters there was a “good family fight” about rates, though central bankers voted unanimously to keep them steady.
That’s a phrase he has used frequently in recent months as he seeks so-called regime change at the Fed. Since his nomination hearing in April, Warsh has mentioned “family fight” publicly 13 times, according to a CNBC tally.
But if the June FOMC meeting was a good family fight, the temperature for the next one could go up a notch. And unlike last month’s unanimous vote, Wall Street sees at least two dissents in favor of tightening policy at the upcoming meeting. That’s because much has changed.
Most notably, the U.S.-Iran ceasefire has collapsed, and renewed fighting has sent oil prices back up again. This time around, oil stockpiles are nearing operational lows, while ship traffic is now being attacked in the Red
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